The plan, which is estimated to cost VND 233 billion, will transform the Phap Van-Tu Hiep Student Dormitory Project into social housing for lease.
The project consists of six 19-floor apartment blocks covering 12,000 square metres, capable of housing 21,900 students. Construction began in 2009 with investment of VND1.90 trillion allocated from the state budget. In January, 2015, three buildings were opened, expecting to host up to 10,800 students. However, the dormitory failed to attract students who say that it is in an isolated area far away from their educational institutions, with the nearest university being 4 kilometres away.
Meanwhile, two blocks were abandoned after being half built, while the remaining block never began construction as the investor failed to raise enough capital.
According to vice-chairman of the municipal people's committee Duong Van Thuan, demand for social housing in Hanoi remains high. Demand for social housing by 2030 is estimated at 113,000 apartments.
The Hanoi People's Committee said that the city would spend VND437 trillion on housing development in the 2021-2025 period, including VND5.8 trillion for social housing, resettlement housing projects, and apartments upgrading. The city targets the average housing floor area of 29.50 square metres per person.
